MicrosoftВ® Office ExcelВ® 2007: Data Analysis and Business Modeling (Bpg -- Other)

Suppose we are charging $60 for a board game we invented and have sold 3000 copies during the last year. Elasticity for board games is known to equal 3. Use this information to determine a linear and power demand curve.

For each of your answers in Problem 1, determine the value consumers place on the two thousandth unit purchased of your game.